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农业保险 保费 财政补贴效率研究： 基于农户级微观数据的证据

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Budget: crop insurance has become the most costly farm program (outside of food and nutritional assistance).

In 2011, over 265 million acres were insured in the program, with a total liability estimated at $114 billion. Federal costs of the program in fiscal year (FY) 2011 are estimated to exceed $11 billion, and the Congressional Budget Office projects that 10-year outlays over FY 201322 will exceed $90 billion.

Questions

What Market Failure?

The Harm of Subsidies

Potential distortions

Efficient of Subsidy

As Smith (2011) pointed out, over the 20052009 period, the combination of A&O subsidies and underwriting gains resulted in a return of $1.44 to the private insurance companies for each subsidy dollar returned to farmers (in terms of the excess of indemnities over farmerpaid premiums).

WHY DOWE SUBSIDIZE CROP INSURANCE?

What is the price elasticity of demand for crop insurance?

Adverse selection and moral hazard are difficult to measure and may have changed over time.

To what degree do farm decision-makers experience cognitive failure when assessing catastrophic price and yield risk?

With the current premium subsidy structure, subsidy per dollar of insurance protection varies dramatically across different crops and regions.

To what extent does this affect planting and resource allocation decisions? What alternative subsidy designs might be less distortionary?

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2

3

200964538.6 4890.8 201066686.4320093.33%

1

2009-2010600

100

20092010

SCIDiDJRI

hog

swine

survey

Insurance Impact on Vaccine Use

Insurance Impact on Mortality Rate

Insurance Impact on Production

Conclusion

Vaccine use for hogs increased significantly after the withdrawal of insurance, while it is not significant for swines.

Access to insurance significantly increases the hog production, but not significant for the swine production.